Islamic Development Bank (IsDB)

Since the beginning of the COVID19 pandemic in early 2020, Islamic Development Bank (IsDB) have committed at least USD 21.33 million to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 21.33 million for fossil fuels without conditions

By energy type, Islamic Development Bank (IsDB) committed at least USD 21.33 million to oil and gas (at least USD 21.33 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Updated: 22 September 2021


At least

$21.33 million

Supporting fossil fuel energy



At least

$0

Supporting clean energy

Islamic Development Bank (IsDB)

Since the beginning of the COVID19 pandemic in early 2020, Islamic Development Bank (IsDB) have committed at least USD 21.33 million to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 21.33 million for fossil fuels without conditions

By energy type, Islamic Development Bank (IsDB) committed at least USD 21.33 million to oil and gas (at least USD 21.33 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Public money commitments to fossil fuels, clean and other energy in Islamic Development Bank (IsDB) spending since January 2020, USD billion, as of 22 September 2021

Policies and Finance

MDB Recipient Country Category Policy name Sector Energy Type Mechanism Value committed, USD Date of announcement Policy type Sub-Institution or Programme Receiving entity Stage Arm of Government Primary and secondary stated objective of the policy Policy background Links to official sources Links to additional sources
Islamic Development Bank (IsDB) Bangladesh Fossil unconditional Feni Oil-Fired Power Plant (114MW) IPP Resources Oil and oil products Loan (Hybrid),loan guarantee (... 21330000 2020111313/11/2020 Fiscal Lakdhanavi Electricity generation Government The financing is for the 114MW Feni oil-fired plant in Chattogram, Bangladesh. NOTE: The financing is being provided through the Islamic Corporation for the "Development of the Private Sector" program.

https://ijglobal.com/data/transaction/48897/feni-oil-fired-power-plant-114mw-ipp Accessed 28 January 2021.